IOSCO Final Report on Technological Challenges to Effective Market Surveillance - Issues and Regulatory Tools

The Report provides an overview of current market surveillance regimes and identifies the main challenges which technological developments pose to these regimes. It also makes final recommendations to help market authorities develop the regulatory tools for addressing these challenges, particularly with respect to:

• improving surveillance capabilities on a cross-market and cross-asset basis; and
• making more useful to market authorities the data collected for surveillance purposes.

To help market authorities achieve the two goals of an effective surveillance regime, this report considers new regulatory tools for dealing with the challenges they face, including audit trail or surveillance data that permits the reconstruction of trades and order books; a single reporting point for transactions within a jurisdiction; and unique entity identifiers.

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